Mar 2007 - WCP Resources

WCP Resources Limited (WCP) –Exploring and Drilling Specific Targets

Since the appointment of Levi Mochkin to the board in April 2006, WCP has aggressively established an Australian exploration portfolio of overlooked gold, copper, and/or uranium prospects, and turning them to account through re-examining their geology and then drilling specific targets.

Early success already occurred in late 2006, with a gold intersection of 33.8g/t over 9m (within 22m @ 14.9g/t) about 50m below the bottom of the old ~50m deep Whistler Pit of the Montague Goldfield Project in central Western Australia, with assays pending from subsequent drilling. There is the possibility of further upside potential with mineralisation identified in the perceived barren hangingwall, the possibility of flatter mineralisation, and encouragement further south at Rosie Nth.

WCP has three copper-gold-uranium targets in different parts of Australia, being the shear-hosted Mombo Bore in WA, the IOCGU of Lake Torrens in SA and IOCG at Lilleyvale in QLD. Initial 3d-IP surveys have recently been completed at Mombo Bore identifying potentially significant drill-ready targets at Kingfisher & Mickey’s Well. Depending on drilling results, WCP may have made a new discovery.

The Lake Torrens JV appears to a be a standard IOCGU target located at the exploration “hot-spot” on strike northwest between Prominent Hill and Olympic Dam in SA, (and in fact consists of a number of targets), while the Lilleyvale IOCG in QLD is located on strike southeast of Ernest Henry and Cannington.

WCP also has a number of palaeochannels that have the potential to contain uranium in the calcrete-form amongst 6 WA projects (with historic trenches and sampling dating back to the late 1970s) and in the sandstone-form in the Coulta JV in SA (on which a recent 2007 radiometric survey verified the potential for anomalous uranium).